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MWW Automotive Reports Preliminary 2nd Quarter 2013 Revenue Numbers
15 hours 34 minutes ago - PR Newswire via Comtex
MWW Automotive Group (OTCQB: MWWCD), a global design, engineering, and manufacturing firm serving some of the world's leading automotive and industrial manufacturers and design firms, announced today its preliminary summary financial results for the 2nd Quarter 2013, ending on March 31, 2013.
Revenues were $240,047.48 for the three months ended March 31, 2013 compared to $174,558 for the same period in 2012, an increase of $65,489, or thirty eight (38%) percent.
Revenues for the 2nd quarter 2013 have increased by $46,100, or twenty four (24%) percent compared to the 1st quarter of 2013.
A detailed financial report will be filed before or on May 15, 2013.
"We are happy to report those preliminary numbers; we believe that they signify the beginning of our turn-around," states Chuck Pinkerton, CEO of MWW Automotive. "Open order numbers from our large customers are increasing and we are continuing to improve our production output and operational performance. Since January of this year we have consistently increased revenues every month. We have also begun and continue to clean up our balance sheet, reduce debt and strengthen our capitalization structure. This should, together with our improving financial outlook and more advantageous financing opportunities, allow us to once again demonstrate improving overall performance and generate improving shareholder value, as we have done before."
About MWW Automotive Group (MWW)
The MWW Automotive Group's (OTCQB: MWWCD) administrative offices are located in Howell, Michigan, with a 46,000 square foot Class A manufacturing and logistics facility in Baroda, Michigan for the production of high quality OE automotive and industrial products. MWW delivers its products and Class A painting, assembly and logistics services directly to major US and Foreign automobile manufacturers' Vehicle Processing Centers (VPC), leading edge show car and performance accessory design firms, and/or assembly lines in North America. MWW's industrial products are delivered directly to the industrial manufacturers for installation in their facilities. MWW provides substantial added value to the sale of vehicles and industrial products for leading international automobile and industrial manufacturers such as Toyota, Chevrolet, Hyundai, Kia Motors, MAZDA, GM, Ford, FIVE AXIS and their strategic partners ROUSH Performance and Polytec/FOHA. For more information visit www.mwwautomotive.com or e-mail investorrelations@mwwautomotive.com.
Safe Harbor Statement: Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings."
SOURCE MWW Automotive Group
